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Strategies & Market Trends : The New Economy and its Winners
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To: Lizzie Tudor who wrote (26287)11/16/2005 11:45:18 PM
From: Bill Harmond  Read Replies (2) of 57684
 
Am I dreaming this?

16:18 BRCD BRCDE raises Q4 revenue guidance, sees EPS between $0.03-0.04, ex items, narrows gross margin guidance to lower end of range (4.15 0.00)

Co announced preliminary Q4 results. Co expects to report net revenue for Q4 05 in a range of $144-146 mln , Reuters consensus is $142.3 mln, previous guidance was $140-145 mln... co sees non-GAAP EPS of $0.03-0.04, Reuters consensus is $0.04. Revenue and EPS are estimated to be at or above the high-end of previous guidance issued on 8/18. Gross margin for Q4 are expected to be in a range of 55-56%, which is within the Company's previous guidance of 55-57%. Gross margin for Q4 05 reflects additional excess and obsolete inventory reserves recorded in connection with the faster than expected transition from 2Gbit to the new 4Gbit product family. Day sales outstanding (DSO) is expected to be in a range of 44-46 day range... Co attributed its better than expected results to strong demand, particularly for directors and embedded switches for bladed servers. During Q4, the number of weeks of inventory of switches and directors held by Brocade OEM partners decreased by nearly one week, to approx two and a half weeks of inventory on hand; had previously expected to end Q4 with approx three weeks of partner inventory. The greater than expected reduction was attributed to stronger than expected sell-through in the final weeks of the quarter. Co expects to report financial results for Q4 on Tuesday, 12/6 before the market opens.
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